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Pharmaceutical firms asked to reduce the prices of medicines!
Posted on: 20/Mar/2015 3:02:02 PM
National Pharmaceutical Pricing Authority (NPPA) has ordered the pharmaceutical manufacturing companies to reduce the prices of medicines.
With the reduction in the Production Tax for medicines, NPPA has reported that this benefit must be extended to the public who buy them.
National Pharmaceutical Pricing Authority declared that until recently, 6% Production Tax and additional 0.18% Tax for Educational Development were collected. Now, this additional tax has been withdrawn.
NPPA ordered that after the tax reduction, the maximum retial prices of the medicines should also be reduced.
NPPA has ordered the pharmaceutical manufacturing companies should implement this immediately.
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